You did your homework. You planned ahead. You sat down with an attorney, signed the paperwork and named someone to handle things if you ever couldn’t. Maybe it was a family member or a trusted friend. You felt relieved to have plans in place.
And then, slowly, things started to feel “off.”
The phone calls got shorter. Visits got less frequent. When you asked about your accounts, the answers were vague: “Everything’s fine, don’t worry about it.” But the bills went unpaid. Your medication ran out and no refill arrived. And somewhere along the way, cash moved out of your savings account.
That isn’t an uncommon scenario—it’s financial abuse, the most common form of elder abuse. Most people don’t report the abuse when the perpetrator is someone they know, especially family. Understanding the warning signs can help you protect what matters most.
What Is Power of Attorney?
A power of attorney (POA) grants another individual the authority to make financial, legal or medical decisions on the signer’s behalf. This may include paying bills or overseeing bank and investment accounts. Abuse can go undetected for months or years. Red flags include:
- Unexplained withdrawals or changes to account beneficiaries
- Bills going unpaid despite sufficient assets
- An agent becoming defensive or secretive about finances
- Sudden changes to wills or estate documents following a health decline
The good news is that abuse is preventable when families and older adults take deliberate precautions:
Choose your agent carefully. The most important decision in any POA arrangement is selecting the right person. An agent should be someone with integrity, financial competence and a genuine commitment to your well-being. Consider naming a professional fiduciary, an attorney or a trusted institution if no suitable family/friend is available.
Limit the scope of authority. A typical general durable POA grants sweeping powers, but a limited or special POA can restrict the agent to specific tasks or include certain prohibitions. Work with an elder law attorney to tailor the document to your actual needs.
Build in oversight and accountability. Require the agent to keep detailed records of transactions and provide regular updates to a third party, such as another family member or an attorney. Set up transaction alerts through your bank that can notify a (separate) trusted contact.
What to Do if You Suspect Abuse
If you believe a POA is being misused, act quickly. The earlier you report, the greater the chance of recovering lost assets. Contact Adult Protective Services (APS) at 831-755-4466, which investigates reports of elder abuse. An elder law attorney can petition a court to revoke the POA, demand accounting or seek restitution.
Power of attorney abuse thrives in secrecy and inaction. The best prevention is careful planning, open family communication and regular oversight.
For 30 years Central Coast Senior Services, Inc. has been helping seniors and their families navigate issues like this and many others to help them remain at home. Give us a call at 831-649-3363.
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